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TECHS: False Downside Break USDCAD....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: False Downside Break
USDCAD dipped as low as 1.3358 yesterday on the back of solid retail sales
figures before reversing back through the 55-dma to bring the pair back into
range. A break back above the 21-dma would shift the focus back to the 1.35
level, above which would reignite the uptrend, opening a run at the Apr 24 high
& 76.4% retracement of the Jan-Feb fall at 1.3521/24. Bears need a close below
the 55-dma 1.3396 to target yesterday's low, below which would open the 100-dma
at 1.3332.

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